Unify Financial Advisors Weekly Market Update
Last week, Wall Street saw positive momentum despite mixed economic data. The S&P 500 closed at a new record high of 6,966.28, reflecting a weekly gain of 1.57%. This growth was part of a broader market rally, with nine out of eleven sectors ending the week higher, led by materials, industrials, and energy.
The Job Openings and Labor Turnover data for November showed a decrease of 300,000 job openings across most sectors combined; however, construction job openings increased by more than 90,000 jobs. The Employment Situation report showed a slight decrease in December, with the unemployment rate at 4.4%.
Weekly Outlook
We anticipate the release of the latest inflation data, including the Consumer Price Index (CPI) and the Producer Price Index (PPI). Some of the largest financial institutions kick off the fourth quarter earnings season this week. Their earnings results and commentary will provide a fresh perspective on the economy.
Please read the full Market Week report for details on last week’s market and economic trends.
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Regards,
David Bennett